Bulls n Bears Investors Notebook Issue 184:09 October 2018

Tue Oct 9 10:52:15 CAT 2018

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Bulls n Bears Investors Notebook Issue 184:09 October 2018

 <http://www.nicozdiamond.co.zw/> 

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

Relations are all about: Winning, Losing & Sharing.
Winning Trust, Losing ego

Mangudya Discourages People From Chasing Parallel FOREX Rates

The Reserve Bank of Zimbabwe (RBZ) has warned Zimbabweans against losing
value for their money while chasing parallel exchange rates saying foreign
currency receipts for the first nine months of the year amounted to around
$5 billion hence everyone still has access to Forex for paying school fees
among other essentials. RBZ Governor John Mangudya, defended his latest
Monetary Policy measures insisting no one has been disadvantaged. "We have
$404 million of bond notes in circulation and total foreign currency
receipts for the first nine months of the year amounted to around $5
billion. So if you remove the bond note those exporting will reduce their
exports. Removing the bond note does not also reduce fiscal imbalances "By
the way the new Monetary Policy measures are an improvement from the
previous position,no one is being disadvantaged at all.
<http://www.bulls.co.zw/> Read more >

Barclays Bank Of Zimbabwe Changes Name.

Barclays Bank of Zimbabwe Limited has  co-branded to First Capital Bank  in
association with Barclays  following the approval by shareholders  to enable
a smooth transition until 2020. Addressing the media at the re-branding
launch held at the Zimbabwe Stock Exchange today,the group Managing Director
Samuel Matsekete said they are working  hard to sustain and continue to
enhance customer experience across all service points. "On 3 July 2018
shareholders approved the name change from Barclays Bank of Zimbabwe Limited
which will now be co branded with Barclays until October 2020. "This forms
part of the launch of a new cohesive brand identity for all of the FMB
capital Holdings PLC banking operations across Botswana,Zimbabwe,Malawi and
Zambia whilst the Group's operations in Mozambique are also set to be re
branded next year. <http://www.bulls.co.zw/> Read more >

 <http://www.firstmutualproperties.co.zw/> 

For more business & financial updates log onto <http://www.bulls.co.zw/>
www.bulls.co.zw

Manufacturers expose shops for price madness

BULAWAYO - Manufacturers yesterday exposed retailers for duping customers by
inflating prices despite procuring products from them at unchanged prices.
Yesterday, products such as a 2 litre bottle of cooking oil were being sold
for $10 from nearly $4 with some shops limiting quantities that members of
the public could buy. Commodities such as a 2kg of rice went up from an
average of $3 to $6. Many hardware shops took delivery of cement yesterday
after running dry for most of last week but were strictly selling it at
US$10 per 50kg bag or its equivalent in rand. Some furniture shops have also
increased prices by more than 50 percent. <http://www.bulls.co.zw/> Read
more >

'New tax necessary pain for Zimbabwe recovery' - Mnangagwa

HARARE (Reuters) - Zimbabwean President Emmerson Mnangagwa said on Monday a
new tax on electronic payments was a painful but necessary part of the
government's attempts to revive the economy, his first comments since the
imposition of the levy last week sparked a public outcry. After narrowly
winning a disputed presidential vote in July, Mnangagwa is trying to put
back on track an economy that all but collapsed under the near four decade
rule of Robert Mugabe which ended after an army coup last November. Finance
Minister Mthuli Ncube on Oct. 1 announced the 2 percent tax, saying the
money raised would be used in the roads, health and education sectors. The
tax will apply on mobile and card payments and bank transfers above $10 with
exceptions for foreign payments and transfer of government funds.
<http://www.bulls.co.zw/> Read more >

Producers speak on panic-buying   

Manufactures of basic commodities yesterday indicated they have not
increased prices and attributed the current shortages as artificial and
caused by speculators and unscrupulous businesspeople.Some basic commodities
such as cooking oil and sugar are missing on shelves, with informal traders
selling in foreign currency or charging exorbitant prices. As of yesterday,
retail outlets such as Pick n Pay, OK and Spar did not have cooking oil.
Also in short supply in supermarkets was Mazoe juice brands. Most of the
informal traders no longer accept EcoCash or swipe. Some unscrupulous
businesspeople were already selling a two-litre of cooking oil for high
prices ranging between $10 and $15, while others were selling at US$10 per
three bottles.  <http://www.bulls.co.zw/> Read more >

UAE firm makes splash in Zim with cheapest data

HARARE,- United Arab Emirates-based global satellite operator, Yahsat on
Monday launched its flagship satellite broadband service YahClick in
partnership local ISP, Dandemutande in a move that could lower prices of
data by as much as 70 percent. The cost of data is an emotive issue in the
region, notably in Zimbabwe and South Africa where it sparked off the
#DataMustFall. A recent report by Ecobank showed that Zimbabwe has the
second most expensive mobile data in sub-Saharan Africa after Equatorial
Guinea at $25 for one gigabyte Yahsat is a subsidiary of Mubadala, the
investment vehicle of the United Arab Emirates government and already
operates in most African countries, including Nigeria, South Africa, Angola
and Zambia.  <http://www.bulls.co.zw/> Read more >

Zim set to have first MRI equipment

A local health institution has embarked on a US$10 million expansion and
refurbishment project that will see the country having the first Magnetic
Resonance Imaging (MRI) equipment called Three Tesla from Japan, which is
set to be the first of its kind in Africa. The development has been lauded
as a step in the right direction despite numerous challenges bedevilling the
health sector. The Avenues Clinic in Harare, is one of the country's prime
health facilities catering for locals, diplomats and even tourists. Today,
the clinic held a ground breaking ceremony signalling the commencement of
the refurbishment exercise.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

$2m diaper factory set up in Bulawayo   

A $2 MILLION diaper manufacturing plant has been set up in Bulawayo with the
investment expected to create scores of downstream jobs. The manufacturing
concern, which is called Masters Diapers Zimbabwe, is the first of its kind
in Bulawayo. Speaking during a tour of the plant yesterday, the company's
managing director, Mr Nigam Desai, told Industry and Commerce Deputy
Minister Raj Modi that the manufacturing concern has been a distributor of
diapers for the past six years. However, due to the prevailing foreign
currency shortage, he said, they encouraged their investors in South Africa
to come and set up a manufacturing plant locally. If it starts operating,
the plant has capacity to produce 120 000 diapers per day. "Right now we are
starting with 25 to 30 people directly employed then indirectly we will have
merchandisers throughout the whole country.   <http://www.bulls.co.zw/> Read
more >

Gold deliveries clock record 28 tonnes   

ZIMBABWE's gold mining sector breached the 28 tonnes record deliveries to
Fidelity Printers and Refiners by end of September and is now short of two
tonnes to meet this year's 30-tonne target. Official statistics from
Fidelity Printers and Refiners, the country's sole gold buyer, indicate that
small-scale miners maintained their lead in terms of gold output in the
third quarter of the year, delivering a cumulative total of 19,2 tonnes in
the nine-month period to September 30, 2018. Primary producers on one hand
delivered a cumulative total of 9,02 tonnes. When combined, both primary and
small-scale producers delivered 28,2 tonnes of gold to Fidelity by end of
third quarter. The increase in gold output has been attributed to enhanced
mining capacity by Government.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

New tax will burden formal workers: CZI   

THE Confederation of Zimbabwe Industries (CZI) Matabeleland Chamber has said
the new 2c tax for every dollar on electronic transactions will add more
burden to the formally employed and cripple value chain efficiencies in the
productive sector. Speaking on the on-going debate about the new tax which
was imposed by Treasury in last week's fiscal stabilisation measures,
president of CZI Matabeleland Chamber, Mr Joseph Gunda, said: "While the
objective of introducing the two percent charge on electronic transactions
is meant to generate revenue, it will however, hurt the ordinary person
especially those in full time employment as they are already taxed on PAYE,
VAT, sales tax when buying goods from shops as well as manpower development
levy etc". Although Zimbabweans appreciate the advantage of widening the tax
net by taxing the informal sector, Mr Gunda said Treasury's stance in this
instance "will fall hard on those formally employed".
<http://www.bulls.co.zw/> Read more >

Zimre Property completes Byo students' accommodation project   

REAL estate investment company, Zimre Property Investments Limited (ZPIL),
has splashed thousands of dollars towards development of off campus
accommodation units for tertiary students in Bulawayo. The company is
finalising refurbishment of its Nicoz Building in the Central Business
District, which has been turned into off campus accommodation facility for
students. The building is located at Corner Fort Street and 9th Avenue, has
gross internal floor of 3 87854m2 and is wholly owned by ZPIL. A Business
Chronicle crew had the opportunity to tour the new look accommodation
facility from the ground to the fourth floor. The facility has 440m2 of
shopping space for letting on the lower ground floor. Senior ZIPL officials
said the project was meant to contribute to the provision of accommodation
to tertiary students from various institutions in Bulawayo.
<http://www.bulls.co.zw/> Read more >

Govt to privatise 11 parastatals   

AT least 11 State-owned enterprises will be privatised under the
Government's public enterprises reform framework for 2018-2020 while some
will be liquidated, merged or departmentalised. The measures are contained
in the new Government blue-print, the Transitional Stabilisation Programme
(TSP) that was presented by Finance and Economic Development Minister,
Professor Mthuli Ncube, on Friday. The Minister said reforming the
State-owned enterprise sector was part of the short to medium term reform
framework whose implementation is already underway. "Government will
expedite the implementation of the Cabinet decision on restructuring,
partial or full privatisation of entities. The reform measures for immediate
implementation over the period 2018-2020 target the privatisation of 11
State-owned enterprises, six IDC subsidiaries, and 17 ZMDC subsidiaries,"
said Prof Ncube.  <http://www.bulls.co.zw/> Read more >

Urgently allocate us forex to buy pharmaceutical supplies: AHFoZ   

The Association of Healthcare Funders of Zimbabwe (AHFoZ) has called upon
the Reserve Bank of Zimbabwe (RBZ) to urgently allocate it foreign currency
for the purchase of pharmaceutical supplies and consumables. In a Press
statement released yesterday, AHFoZ said patients had reported that a number
of pharmacies were charging for medication in US dollars. "There is lack of
mention of pharmaceuticals as among the strategic requirements for
facilities amounting to $500 million which have been put in place by the
Reserve Bank of Zimbabwe," said AHFoZ.  <http://www.bulls.co.zw/> Read more
>

No going back on 2 cents tax - ED   

President Mnangagwa yesterday said the Intermediary Money Transfer Tax of 2
cents will remain in force as it is critical in transforming the economy,
which has suffered from two decades of stagnation.The President said the tax
was not designed to hurt ordinary people and companies, but to help the
manufacturing sector get funds for retooling and modernisation as the
economy gears to ramp up production. However, there is room for the tax to
be refined going forward if suggestions are proffered, to create a win-win
situation for individuals and companies on one hand, and the economy on the
other. President Mnangagwa said this while fielding questions from delegates
during the Professional Women, Women Executives and Business Women's Forum
(Proweb) breakfast meeting in Harare yesterday.  <http://www.bulls.co.zw/>
Read more >

Bread, transport fares up

The price of bread has gone up while transport fares have also moved
northwards, a clearest sign of increased economic turmoil coming on the back
of recent monetary and fiscal policy measures. It now costs $1,50 to buy a
standard loaf of bread, 50% more expensive and way above Zimbabwe's annual
inflation rate. Short-distance travel, rated at 50 cents since the economy
dollarised in 2009, now costs 75 cents. Long distance travel now costs
$1,50, up from $1 since 2009. The fares increased this past weekend as
commuter omnibus operators face higher fuel and motor spare parts costs from
the new tax imposed last week.  <http://www.bulls.co.zw/> Read more >

Govt to stimulate FDI with global tenders

FINANCE minister Mthuli Ncube says government will accelerate the reform of
State-owned Enterprises (SoEs) and parastatals, starting with quick hits
such as TelOne, NetOne and the People's Own Savings Bank (POSB), which will
be shed-off "in the next six months". SoEs and parastatal reform is a key
action to be taken under one of the five pillars of Ncube's Transitional
Stabilisation Programme (TSP) launched last Friday, covering the period
October 2018 to December 2020.To court the best suitors and stimulate
foreign direct investment (FDI), government has resolved to publish
international tenders in the world's biggest economies and other strategic
jurisdictions. <http://www.bulls.co.zw/> Read more > 

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

REST OF AFRICA

Counters Trading Under Cautionary

NicozDiamond

Ariston

Barclays

Dawn

Unifreight

Hwange

RTG

Post your event (AGM, EGM, Analysts Briefing, etc) on the Investor Diary
free of charge and reach out to the market. We have annual gold prices since
1900, monthly since January 1971 and daily prices since January 2000. We
also provide historical ZSE prices on request.

DISCLAIMER: This report has been prepared by Bulls 'n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from sources believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls 'n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and sourced from third parties.

Invest Wisely!

Bulls n Bears 

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